Can a Business EIN number be use as SS# for paypal?

[wholesalejunky]

I registered a new business and got a new EIN number. First question is can I use that as the SS# to verified an new paypal account?

Another question is my friend has an active paypal account but mines is limited. If he turns his paypal into business primer and uses my EIN number what are the chances of his getting limited?

[KingRay]

You should if you open atleast the business account. EIN number is the same thing as an individuals SSN # but for business. If your business has 4 partners the tax liability would not be expected to be taken on one persons SSN. I would like to know as I am wanting to do the same thing but with an LLC.


As for the 2nd part, I am all ears to peoples responses there for sure so if anyone Really has experience in this please respond. You will probably just get the standard speculation responses. Hopefully not though.

[GreenBean]

Originally Posted by wholesalejunky

I registered a new business and got a new EIN number. First question is can I use that as the SS# to verified an new paypal account?

Another question is my friend has an active paypal account but mines is limited. If he turns his paypal into business primer and uses my EIN number what are the chances of his getting limited?

Really really bad idea to assoicate your account with his. You will end up probably doing damage to both your accounts & credit rating.

The EIN is accepted by paypal. BUT paypal may still ask for the SSN associated.
It depends. Every case is different.

[KingRay]

I just now got finished obtaining my EIN and now in the next couple days I will go through the LLC process. That way I can just go and do a paypal account with a legit EIN #. I dont see how they would wan a SSN for a business. I know that if walmart opened a paypal account they would not ask for any SSn as there is no way one person would take the tax burden.

The purpose of the EIN is to report the tax on it once it reaches the 20k or am I wrong? If you gave them a personal SSN then all of the tax burden would be on that person's personal taxes. The LLC EIN would report the taxes for the Business's tax return only. Am I wrong here? That is what I have been getting by researching this online (too much as my eyes are starting to cross this evening).